India2021 Economic Complexity Trade : 0.61, Rank 41 of 131
2021 Economic Complexity Technology : 1, Rank 22 of 96
2021 Economic Complexity Research : -0.093, Rank 68 of 140
2021 Product Exports | Imports: $403B | $563B, 14 of 226 | 11 of 226
2021 Per Capita Product Exports | Imports: $289 | $404, 179 of 219 | 187 of 219
Overview In 2021, India was the number 6 economy in the world in terms of GDP (current US$), the number 14 in total exports, the number 11 in total imports, the number 137 economy in terms of GDP per capita (current US$) and the number 41 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of India are Refined Petroleum ($49B), Diamonds ($26.3B), Packaged Medicaments ($19.2B), Jewellery ($10.7B), and Rice ($10B), exporting mostly to United States ($71.2B), United Arab Emirates ($25.4B), China ($23.1B), Bangladesh ($14.1B), and Hong Kong ($11.2B).
In 2021, India was the world's biggest exporter of Diamonds ($26.3B), Rice ($10B), Non-Retail Pure Cotton Yarn ($4.69B), Synthetic Reconstructed Jewellery Stones ($1.46B), and Pepper ($1.33B)
Imports The top imports of India are Crude Petroleum ($93.5B), Gold ($58.4B), Coal Briquettes ($28.4B), Diamonds ($26B), and Petroleum Gas ($21.9B), importing mostly from China ($94.1B), United Arab Emirates ($42B), United States ($39.1B), Switzerland ($31.8B), and Saudi Arabia ($25.6B).
In 2021, India was the world's biggest importer of Coal Briquettes ($28.4B), Diamonds ($26B), Palm Oil ($8.72B), Soybean Oil ($5.6B), and Scrap Aluminium ($2.94B)
Location India borders Afghanistan, Bangladesh, Bhutan, Burma, China, Nepal, and Pakistan by land and Indonesia, Maldives, Sri Lanka, and Thailand by sea.
February, 2023
Overview In February 2023 India exported $37B and imported $53.2B, resulting in a negative trade balance of $16.2B. Between February 2022 and February 2023 the exports of India have decreased by $-145M (-0.39%) from $37.1B to $37B, while imports decreased by $-3.78B (-6.63%) from $57B to $53.2B.
Trade In February 2023, the top exports of India were Petroleum Products ($7.83B), Pearl, Precs, Semiprecs Stones ($2.67B), Drug Formulations, Biologicals ($1.58B), Telecom Instruments ($1.06B), and Iron And Steel ($993M). In February 2023 the top imports of India were Petroleum: Crude ($13.3B), Petroleum Products ($3.62B), Coal,Coke And Briquittes Etc ($3.13B), Gold ($2.63B), and Pearl, Precs, Semiprecs Stones ($2.53B).
Destinations In February 2023, India exported mostly to United States ($5.88B), United Arab Emirates ($2.86B), Netherlands ($2.17B), Hong Kong ($1.54B), and China ($1.43B), and imported mostly from China ($6.97B), Russia ($5.08B), United Arab Emirates ($4.71B), Saudi Arabia ($3.43B), and United States ($3.33B).
Growth In February 2023, the decrease in India's year-by-year exports was explained primarily by an decrease in exports to Australia ($-681M or -59.6%), Bangladesh ($-656M or -41.1%), and Belgium ($-317M or -32.9%), and product exports decrease in Iron And Steel ($-765M or -43.5%), Aluminium, Products Of Aluminm ($-417M or -39.8%), and Cotton Raw Incld. Waste ($-183M or -64.4%). In February 2023, the decrease in India's year-by-year imports was explained primarily by an decrease in imports from China ($-1.54B or -18.1%), Iraq ($-1.53B or -42.5%), and Switzerland ($-1.16B or -46.7%), and product imports decrease in Gold ($-2.15B or -44.9%), Fertilezers Manufactured ($-1.03B or -66.8%), and Pearl, Precs, Semiprecs Stones ($-668M or -20.9%).
EXPORT GROWTH (February 2022 - February 2023): $-145M, (-0.39%)
IMPORT GROWTH (February 2022 - February 2023): $-3.78B, (-6.63%)
MAIN DESTINATION (February 2023): United States, $5.88B
This section shows exports and imports data at subnational level for India. Click any date in the line plot, or any product, destination or origin country to explore the exports or imports behavior of India over time.
For full datasets download visit Bulk Download page.
Top Export (2021): Refined Petroleum, $49B
Top Destination (2021): United States, $71.2B
In 2021, India exported a total of $403B, making it the number 14 exporter in the world. During the last five reported years the exports of India have changed by $130B from $273B in 2016 to $403B in 2021.
The most recent exports are led by Refined Petroleum ($49B), Diamonds ($26.3B), Packaged Medicaments ($19.2B), Jewellery ($10.7B), and Rice ($10B). The most common destination for the exports of India are United States ($71.2B), United Arab Emirates ($25.4B), China ($23.1B), Bangladesh ($14.1B), and Hong Kong ($11.2B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
India Exports Services (2020): $101B
India Imports Services (2020): $103B
In 2020, India exported $101B worth of services. The top services exported by India in 2020 were Miscellaneous business, professional, and technical services ($42.2B), Sea transport ($14.1B), Personal travel ($11.8B), Other government services ($8.77B), and Air transport ($5.48B).
The top services imported by India in 2020 were Miscellaneous business, professional, and technical services ($48B), Sea transport ($12.3B), Personal travel ($8.19B), Royalties and license fees ($7.24B), and Air transport ($6.94B).
India has a high level of specialization in Processed Hair (23.9), Other Organic Compounds (23.1), Spice Seeds (23), Granite (22.3), and Coconut and Other Vegetable Fibers (22.1). Specialization is measured using RCA, an index that takes the ratio between India observed and expected exports in each product.
The highest complexity exports of India according to the product complexity index (PCI) are Esters of other inorganic acids of non-metals (other than of hydrogen halides)... (1.92), Stainless steel bars and rods, hot-rolled, in irregularly wound coils (1.65), Ion-exchangers; based on polymers of heading no. 3901 to 3913, in primary... (1.65), Tools, hand; hand-operated spanners and wrenches (including torque meter wrenches but not... (1.63), and Tools; plates, sticks, tips and the like for tools, unmounted, of sintered... (1.63). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for India according to the relatedness index, were Chromium Ore (0.42), Niobium, Tantalum, Vanadium and Zirconium Ore (0.42), Knit Men's Coats (0.41), Fake Hair (0.4), and Animal Hair (0.4). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that India is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years India's economy has become relatively more complex, moving from the 52nd to the 41st position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
v5.1.15 owl